Flipkart SBI Card
SBI built the Flipkart Card around online shopping, and it shows: Myntra purchases earn 7.5% cashback, the highest co-brand online rate in SBI's lineup, while Flipkart itself returns 5%, and four unnamed select merchants pay 4%. Everything outside those categories still earns an uncapped 1%, and cashback lands on the statement automatically within two working days of generation — no separate redemption step. Each of the accelerated categories has its own quarterly ceiling of ₹4,000. Cleartrip bookings add another 5% cashback layer, and a 1% fuel surcharge waiver applies up to ₹400 per billing cycle. New cardholders get a ₹250 Flipkart e-gift voucher within 60 days of the fee posting, and the ₹500 joining/renewal fee comes back if annual spending reaches ₹3.5 lakh. A fairly long exclusion list — fuel, rent, government payments, education, insurance, gaming, jewellery, wallet top-ups, vouchers and EMI conversions — earns zero.
Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹250 in vouchers, points or cashback on card activation
7.5% on Online Shopping
7.5% cashback on Myntra — SBI's highest co-brand online rate — capped ₹4,000 per calendar quarter, a separate bucket from the Flipkart cap
5% on Online Shopping
5% cashback on Flipkart, including Shopsy and Flipkart Travel merchant IDs, capped ₹4,000 per calendar quarter in its own bucket
Annual Fee Waiver
Fee of ₹500 + 18% GST (₹590 all-in)/yr fully waived when you spend ₹3,50,000/year
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Online Shopping | cashback | 7.5% | ₹1,333 |
| Online Shopping | cashback | 5% | ₹1,333 |
| Travel | cashback | 5% | ₹1,333 |
| Other | cashback | 1% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹590 |
| Joining fee (incl. 18% GST) | ₹590 |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹1,200/yr in total.
fuel waiver ~ ₹1,200 /yr
1% fuel surcharge waiver on transactions between Rs.500 and Rs.4,000 at all petrol pumps; max waiver Rs.400 per statement cycle
Should you get it?
Best for: Regular Flipkart and Myntra shoppers, People who want automatic cashback with no redemption effort, Occasional travellers who book on Cleartrip
Mid tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on Online Shopping ( 7.5% back).
✓ Pros
- 7.5% cashback on Myntra and 5% on Flipkart — among the best co-brand shopping rates in India
- Each accelerated tier has its own Rs.4,000-per-quarter cap, so Flipkart and Myntra do not compete
- Low Rs.500 fee, reversed on Rs.3.5 lakh of annual spend
- Cashback is automatic — credited within two working days of statement generation
- 5% cashback on Cleartrip plus a 1% fuel surcharge waiver
✕ Cons
- Real value is concentrated on Flipkart, Myntra and Cleartrip — off-ecosystem spend earns only 1%
- A long exclusion list — fuel, rent, government, education, insurance, gaming, jewellery, wallet and voucher loads and EMI all earn 0%
- The welcome benefit is a modest Rs.250 e-gift voucher; the Rs.1,000 first-transaction offer ended 30 June 2026
- SBI names a 4% tier at "4 select merchants" but never says which four
- 3.5% forex markup makes it a poor card for international use
- Cashback rates and preferred-merchant list are subject to SBI/Flipkart co-brand changes
Eligibility & documents
Min. income
₹25,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / valid address proof
- Income proof — salary slips (salaried) or ITR (self-employed)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Cashback is credited automatically to your card statement — no manual redemption needed
🎁 Welcome benefits arrive as a Flipkart gift card and a first-transaction credit
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern Real value is concentrated on Flipkart, Myntra and Cleartrip — off-ecosystem spend earns only 1%, the exclusion list is one of the longest in the SBI portfolio, and the 3.5% forex markup rules it out abroad.
The bottom line
If Flipkart and Myntra already account for a chunk of your spending, this ranks among the strongest co-brand shopping cards available in India — 7.5% back on Myntra for a ₹500 fee is difficult to beat. That said, it's built for a narrow purpose: spend outside the ecosystem earns just 1%, the list of excluded categories runs long, and the ₹250 welcome voucher is unremarkable. Treat it as a companion to a flat-rate everyday card rather than a replacement for one.
Sources & verification
Fees, reward rates, and benefits for the Flipkart SBI Card are taken from SBI Card 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 5 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for SBI Card . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · 2 changes · last change Jun 2026
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2026 1 change — 1 cut
▼ Benefit Effective 30 Jun 2026
Flipkart-App acquisition offers ended
₹250 e-gift voucher + ₹500 Flipkart e-gift card + ₹500 Cleartrip coupon (Flipkart App applications) → ₹250 e-gift voucher only
Two time-limited acquisition offers that ran alongside the card from 26 August 2025 ended on 30 June 2026: a ₹500 Flipkart e-gift card and a flat ₹500 Cleartrip flights coupon, both available only to customers who applied through the Flipkart App and transacted within 30 days. A separate Cleartrip promotion (12% off flights, 25% off hotels) lapsed on the same date. The standing ₹250 Flipkart e-gift voucher on fee realisation is unaffected, as is the permanent 5% Cleartrip cashback tier. We had been carrying the ₹1,000 as part of the card's standing welcome benefit and as an unconditional offer; it was neither.
Verification: SBI Card ↗ · Confidence: High
2025 1 change — 1 neutral
◆ Launch Effective 26 Aug 2025
Flipkart SBI Card launched
SBI Card and Flipkart launched their co-branded card on 26 August 2025: 7.5% cashback on Myntra, 5% on Flipkart, Shopsy, Flipkart Travel and Cleartrip, 4% at four select merchants (SBI names the tier but has never published which four) and 1% unlimited on all other spends. Each accelerated tier is capped at ₹4,000 cashback per quarter; fuel, wallet loads, rent, government, education, insurance, jewellery, gaming and EMI spends are excluded. Fee is ₹500 (reversed on ₹3.5 lakh annual spend). The standing welcome benefit is a ₹250 Flipkart e-gift voucher within 60 days of fee realisation. Corrected 2026-08-06: we had recorded the welcome as ₹1,250 and named the four merchants as Zomato, Uber, PVR and Netmeds — SBI publishes neither. The extra ₹1,000 was a separate, Flipkart-App-only acquisition offer (see the 2026-06-30 event).
Verification: SBI Card ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: Flipkart SBI Card value timeline — CardAdvisor
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Source: Flipkart SBI Card value timeline , CardAdvisor (CC BY 4.0).
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Quick summary
Type Mid credit card
Reward rate 1%–7.5%
Best for Regular Flipkart and Myntra shoppers
Joining fee ₹500
Annual fee ₹500
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 5 Aug 2026
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